State of Michigan Retirement System Increases Stock Position in UMB Financial Corporation $UMBF

State of Michigan Retirement System raised its position in UMB Financial Corporation (NASDAQ:UMBF) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,141 shares of the bank’s stock after acquiring an additional 900 shares during the quarter. State of Michigan Retirement System’s holdings in UMB Financial were worth $1,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group boosted its holdings in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after purchasing an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in UMB Financial during the 1st quarter valued at approximately $27,000. McIlrath & Eck LLC bought a new position in UMB Financial during the 1st quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in UMB Financial in the 1st quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of UMB Financial by 143.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after buying an additional 213 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $107.06 on Friday. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The firm has a market capitalization of $8.13 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 0.80. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $116.70 and a two-hundred day simple moving average of $110.05.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. The firm had revenue of $678.34 million for the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The company’s revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 EPS. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be paid a dividend of $0.43 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 10th. UMB Financial’s payout ratio is 19.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UMBF. Wells Fargo & Company upped their target price on UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Barclays set a $155.00 price target on shares of UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Royal Bank Of Canada raised shares of UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 target price for the company in a research report on Thursday. Finally, Hovde Group started coverage on shares of UMB Financial in a research report on Monday, October 6th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Insider Activity

In related news, insider Shannon Andresen Johnson sold 1,367 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the completion of the transaction, the insider owned 34,124 shares of the company’s stock, valued at $4,114,671.92. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the sale, the insider directly owned 10,147 shares in the company, valued at $1,178,776.99. This trade represents a 10.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders bought 683 shares of company stock valued at $75,961 and sold 22,145 shares valued at $2,578,583. Company insiders own 5.45% of the company’s stock.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.